Deals of the day -- mergers and acquisitions

By Staff Reporter

Aug 07, 2012 08:20 AM EDT

The following bids, mergers, acquisitions and disposals involving European, U.S., Canadian and Asian companies were reported by 1000 GMT on Tuesday.

 ** Pipeline operator Kinder Morgan Energy Partners LP said it will buy a 100 percent stake in Tennessee Gas Pipeline (TGP) and a 50 percent interest in El Paso Natural Gas (EPNG) pipeline from Kinder Morgan Inc for about $6.22 billion.

** Avago Technologies Ltd is close to buying Schneider Electric SA's U.S.-based sensors subsidiary, according to three people familiar with the matter, a deal that could fetch around $1 billion for the French conglomerate.

** Southwest Securities, a mid-sized Chinese brokerage, scrapped a planned acquisition of local rival Guodu Securities under a $1.7 billion share swap agreement after a slumping stock market made the original deal seem overvalued.

** Taiwan's Hon Hai Precision Industry said it was in talks with Sharp Corp about buying a bigger stake in the struggling Japanese TV maker and paying less per share as part of a renegotiated investment deal between the two suppliers of parts to Apple Inc.

** Billionaire investor Carl Icahn offered to buy the remaining stake in CVR Energy after failing to find a buyer for the oil refiner despite contacting more than 30 potential bidders.

** South Korean parts maker Mando said on Tuesday that it has agreed to secure the right to buy shares worth $182 million held by the National Pension Service (NPS) in car air-conditioner maker Halla Climate Control Corp .

** China's Hanlong Group has cut its offer for Australian-listed miner Sundance Resources by 30 percent to A$1.2 billion ($1.27 billion) to reflect the weak commodities outlook, a source with direct knowledge said.

** Private equity firm Carlyle Group LP has emerged as the front runner to buy DuPont's car paint business after rival bidder Apollo Global Management LLC declined to increase its offer, according to three people familiar with the matter.

** Abilio Diniz, chairman of Grupo Pão de Açúcar , agreed on Monday to sell part of his stake in the holding company controlling Brazil's biggest retailer, the next step in handing control to French group Casino.

Diniz exercised an option to sell Casino a 2.4 percent stake in the investment holding company Wilkes for $10.5 million, giving the French retailer a majority in the holding company as laid out in a 2005 shareholder agreement.

** Quality Distribution Inc said it bought Dunn's Tank Service & Nassau disposal for $34.3 million.

** Transport services company XPO Logistics Inc said it acquired truck broker Kelron Logistics to expand into Canada and paid $8 million for Kelron, which generated trailing 12 months revenue of about $100 million as of June.

** Swedish defence and aerospace group Saab AB has made a recommended offer for Dutch traffic management and navigation systems maker HITT N.V., the companies said on Monday.

** Greece wants binding bids for its state-owned natural gas company and gas grid operator by the end of September and hopes to complete their sale in late autumn as it revives its privatization drive, a government official told Reuters on Monday.

** Codan Ltd said it would buy all of the shares in Daniels Electronics Limited in a deal which comprises upfront cash payment of C$25 million with possibility of about C$2 million in additional payments.

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